EU unveils 750 bln euro plan for coronavirus recovery

28 May, 2020

On Wednesday the European Commission announced an anti-crisis plan, under which it will pay the EU countries €750 billion (instead of €500 billion) in the form of grants and loans.

Most of the money will go to Italy and Spain, as the countries most affected by the pandemic. Together, these 2 countries will receive grants and loans in the amount of €313 billion. 

Altogether, this European recovery plan will provide 1.85 trillion euros to help launch the economy and ensure further development of Europe. 

EURUSD reacted with growth to such a statement and reached our previously announced target at 1.10. Against the background of a wider volume of incentives (750 billion instead of 500 billion), further growth of #EURUSD is quite natural. 


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